Our Services

We at Recoversy cover all aspects of investment recovery, whether it is getting the unclaimed shares transferred to the IEPF Authority back or getting the physical shares transmitted in the name of the legal heir. Recoversy is here for all your recovery. 

If you are not sure where to start, give us a call we will guide you and help you bring back any of the unclaimed investments.

TRANSFER OF SHARES

An investor may face various problems while transferring shares to his name. Recoversy provides services to investors who encounter the following problems:

  • Mismatch of signature: Sometimes companies deny the transfer of shares due to a mismatch of the signature of the transferor in the transfer deed and specimen signature available in company records.
  • Non-submission of transfer deed: The buyer has paid the consideration but has not submitted the transfer deed with the company. Consequently, as per the company records, the shares still remain in the seller’s name.
  • Mutilated share certificates: Due to wear and tear of share certificates sometimes they get mutilated causing problems in share transfer.
TRANSMISSION OF SHARES

Transmission of shares at times is hugely cumbersome and runs into many legal complications. We help our clients by providing services relating to the entire range of transmission of shares. A few common issues that we come across frequently are as follows:

Mixing up the transfer of shares with the transmission of shares: One of the widely- experienced problems is not to find out the difference between transfer and transmission of shares. The Companies Act clearly distinguishes transmission of shares from the transfer of shares. While the transfer of shares relates to a voluntary act of the shareholder, the transmission is brought about by the operation of law. Unlike the transfer of shares, in case of transmission, shares are transferred without any consideration. The transmission takes place on the basis of will or an agreement.

DEMAT OF SHARES

Below are Some problems that a shareholder often faces. We help investors to convert physical shares to demat.:

  • Dormant demat account: Demat account of an investor may become dormant due to inactivity for a long time. This frequently happens with passive investors who adopt a ‘buy and forget approach. This may also happen with an investor who opens a new demat account without transferring shares to it from an old account. In such cases, the investor faces problems in trading, transfer, and transmission of shares.
  • Loss of demat details: Due to some reasons, a shareholder may lose his demat details, resulting in a complete lack of communication with the company and depository participant.
  • A shortfall of updated information: An investor has changed address, but the details are correspondingly not updated with the depository participant or the company, resulting in a mismatch with the shareholder’s database. In this case, the investor may lose benefits such as dividends, bonuses, split shares, rights issues, etc.
IEPF CLAIMS

We have always been guided to invest and forget, we need to correct that now: “Invest and forget but keep the details updated”.

There are abundant cases when one buys some shares and due to untimely death or disease loses track of the investment and forgets to tell their successors, according to The Companies Act, 2016 the shares whose dividends are unclaimed for a consecutive period of 7 years are transferred to a government authority called IEPF (Investor Education and Protection Fund) Authority.

For claiming any of these shares, the applicant needs to file an application with the IEPF Authority along with the necessary documents, Recoversy helps in speedy and hassle-free recovery from the IEPF Authority.

RECOVERY OF INOPERATIVE BANK ACCOUNTS

An inactive or dormant account with a bank is termed an inoperative account. An account becomes inoperative if there are no transactions in the account for a period of over two years.

Once the account becomes inoperative, the account holder cannot transact in the account. It is possible to activate an inoperative account by following a procedure prescribed by the bank. Thus we help in making the account operative again and also claiming money from the accounts.

If there is the death of the account holder, we help in transmission through the legal process and claim the amount for legal heirs.

If the account remains inoperative for 10 years, it becomes unclaimed and transferred to Senior Citizen Welfare Fund, from where normally it cannot be claimed after 25 years.

RECOVERY OF FIXED DEPOSIT

The bad news for those who invest their life’s savings in corporate fixed deposits (FDs) is that the government doesn’t really care about their plight.

If a bank deposit is not claimed for 10 years after it becomes due, it is considered unclaimed. Thus we help in the claim of amount from unclaimed deposits.

Further, if there is the death of the account holder, we help in transmission through legal process and claim of the amount to legal heirs.

If the amount due is not claimed for 10 years, it becomes unclaimed and transferred to Senior Citizen Welfare Fund, from where normally it cannot be claimed after 25 years.

RECOVERY OF MUTUAL FUNDS

Hundreds of crores are lying unclaimed in the form of the redemption amount of mutual funds. We provide service in the redemption of Mutual Fund which remains unclaimed due to some reasons.

  • Mismatch of name/change of name
  • Change of address
  • Death of mutual fund holder.
  • Closure of bank account
  • Mismatch of signature

Even if you don’t have details of your mutual fund, but you remember the name of Mutual Funds houses where investment is made, we can assist in the retrieval of information and recovery of those unclaimed mutual funds.

If the mutual fund redemption amount or dividend amount remains unclaimed for 3 years, it will be considered unclaimed and invested by Mutual Fund Houses in the money market. And if it remains unclaimed for another 10 years, it is transferred to Senior Citizen Welfare Fund, from where normally it cannot be claimed after 25 years.

RECOVERY OF MATURED INSURANCE

Around 15000 crores is lying unclaimed in life insurance across India. The rise is largely because of dependants not being aware of the existence of a life insurance policy. This is due to the following reasons

  • Loss of policy documents
  • Death of policyholder
  • Closure of bank account
  • No claim even after maturity
  • Premiums remaining unpaid

We help in the recovery of the following types of claims of life insurance

  • Death Claims
  • Survival benefits
  • Maturity claim
  • Premium refunds
RECOVERY OF PROVIDENT FUND

Thousands of crores are lying unclaimed in the forms of unclaimed provident funds across India.

We provide service to recover unclaimed Provident Fund which remains unclaimed because of the following reasons :

  • Wrong name or Change of name
  • Incomplete KYC
  • Incomplete Information seed by company
  • Closure of bank account
  • Not having PF number
  • Not having UAN/ Unactive UAN
  • Death of Provident fundholder
  • The company refused to sign and attest the claim
HEREDITARY CLAIMS

Parents usually ignore the fact of transferring details to their children’s of their investments, due to untimely disease and death these investments are often unknown to the rightful owners.

Recoversy helps in tracing back this investment and transferring the same to the rightful owner. Recoversy using our advanced AI Algorithms searches for the unclaimed investments under various investments heads viz. Banks, Mutual Funds, Shares and Bonds, Dividends, etc. Once we are updated with all the unclaimed investments we make the necessary arrangements of documents to get the amount transmitted in the name of the rightful owner.

RECOVERY OF UNKNOWN PROPERTY

Recoversy professionals are having knowledge of the entire spectrum of the real estate industry. Our professionals help you to bring your money back which is stuck in the property.

Recoversy will be glad to help you in case you are

  • looking for filing suit for your real estate matters
  • not able to get a refund of your investment in a real estate project which is either delayed or halted.
  • looking for dispute resolution or settlement with builder / developer / colonizer etc.
  • looking for consultation in family property dispute resolution

In case not getting possession or no penalty for the delayed period

UNCLAIMED DIVIDENDS

A dividend that is owed to stockholders of record but has yet to be distributed. An unpaid dividend will exist in the time between the date of record and the dividend payment date.

Although the government has ensured unclaimed dividends, deposits, debentures, bonus, split shares, etc to be in safe hands so that the investors can claim it even after a certain period, the number of the affected investors are no less. We provide a whole range of services to investors to recover their unclaimed dividends, bonuses, split shares, etc. An investor may face such problems because of the following reasons:

Non-execution of transmission: It happens when a legal successor fails to ‘transmit’ shares in his name after the death of an investor whose name shares or debentures are actually held in the company’s records, leading to unclaimed corporate benefits including dividends, etc.

Outdated records: Unclaimed Dividend largely exists due to incorrect or outdated details of a shareholder in the company’s records. Non-intimation of change of address or other details to the respective company results in a mismatch of the investor’s database with various authorities.

Non-execution of transfer: Shares purchased by an investor remain in the name of the seller due to non-execution of transfer in the name of the buyer. This happens when an investor holds physical shares.

Let our experience be your guide 

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